Annapolis Financial Services LLC Cuts Position in Visa Inc. (NYSE:V)

Annapolis Financial Services LLC lessened its holdings in Visa Inc. (NYSE:V) by 67.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 436 shares of the credit-card processor’s stock after selling 905 shares during the period. Annapolis Financial Services LLC’s holdings in Visa were worth $122,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Nomura Holdings Inc. increased its stake in Visa by 101.7% during the 3rd quarter. Nomura Holdings Inc. now owns 1,993 shares of the credit-card processor’s stock worth $458,000 after buying an additional 116,934 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its stake in Visa by 156.7% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 72,096 shares of the credit-card processor’s stock worth $16,583,000 after buying an additional 44,013 shares in the last quarter. Hodges Capital Management Inc. purchased a new stake in Visa during the 3rd quarter worth approximately $1,000,000. Advanced Portfolio Management LLC increased its stake in Visa by 14.6% during the 3rd quarter. Advanced Portfolio Management LLC now owns 6,898 shares of the credit-card processor’s stock worth $1,587,000 after buying an additional 877 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its position in shares of Visa by 77.4% in the third quarter. Axxcess Wealth Management LLC now owns 50,931 shares of the credit-card processor’s stock valued at $11,715,000 after purchasing an additional 22,223 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $150,833.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $150,833.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The disclosure for this sale can be found here. Insiders sold a total of 34,402 shares of company stock valued at $9,559,382 in the last ninety days. Corporate insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of a number of analyst reports. Evercore ISI dropped their price target on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Citigroup upped their price objective on Visa from $314.00 to $321.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Piper Sandler started coverage on Visa in a report on Monday, May 13th. They issued an “overweight” rating and a $322.00 price objective on the stock. TD Cowen started coverage on Visa in a report on Thursday, April 11th. They issued a “buy” rating and a $320.00 price objective on the stock. Finally, Mizuho upped their price objective on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $303.56.

Visa Stock Performance

Shares of V traded down $4.12 during mid-day trading on Friday, hitting $262.47. 13,957,270 shares of the company’s stock were exchanged, compared to its average volume of 8,762,266. Visa Inc. has a fifty-two week low of $227.68 and a fifty-two week high of $290.96. The firm has a market capitalization of $480.04 billion, a P/E ratio of 29.33, a P/E/G ratio of 1.80 and a beta of 0.97. The business’s 50 day moving average is $273.88 and its two-hundred day moving average is $273.50. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. The firm had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.09 earnings per share. On average, equities analysts expect that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.79%. Visa’s dividend payout ratio (DPR) is 23.24%.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.